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  3. cost of goods sold (cost of sales) may include all

Cost of goods sold (cost of sales) may include all of the following except. ...

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Question

Finance

Cost of goods sold (cost of sales) may include all of the following except.

1)

Raw materials

2)

Direct (factory) labor

3)

Management salaries

4)

Purchased components

Which of the following is true when using the earnings record to appraise a stock for investment?

1)

Multiples used in valuation should relate to average earnings.

2)

Be justified by indications available about the future.

3)

Cover at least five years and preferably 7-10 years (Professor L says 10+).

4)

All of the above.

Which of a company's three main financial statements is easiest to manipulate?

1)

Income statement

2)

Balance sheet

3)

Cash flow statement

4)

Management letter

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